USD/CHF Daily Forecast

Thursday, July 22, 2010

The USDCHF didn't make significant movement yesterday. The bias remains neutral but still within a major bearish scenario. Nearest support to be tested at 1.0399. Break below that area could trigger further bearish momentum targeting 1.0320 before testing 1.0220 region. On the upside, immediate resistance at 1.0600 region. Break above that area and violation to the major bearish channel could be a serious threat to the bearish outlook testing 1.0750 area.